Banco Bradesco S.A. (NYSE:BBD) Short Interest Up 127.8% in December

Banco Bradesco S.A. (NYSE:BBD) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 84,850,000 shares, a growth of 127.8% from the November 30th total of 37,250,000 shares. Based on an average daily volume of 33,540,000 shares, the days-to-cover ratio is presently 2.5 days.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

Hedge Funds Weigh In On Banco Bradesco

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after acquiring an additional 5,623 shares during the period. Townsquare Capital LLC purchased a new position in Banco Bradesco in the 3rd quarter valued at $37,000. Insigneo Advisory Services LLC purchased a new position in Banco Bradesco in the 2nd quarter valued at $43,000. Eagle Bay Advisors LLC increased its stake in Banco Bradesco by 110.5% in the 3rd quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank’s stock valued at $54,000 after buying an additional 10,500 shares during the period. Finally, First Affirmative Financial Network purchased a new position in Banco Bradesco during the 3rd quarter worth $66,000.

Banco Bradesco Trading Down 1.0 %

BBD opened at $1.90 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco has a 52 week low of $1.84 and a 52 week high of $3.56. The business’s 50 day moving average is $2.25 and its two-hundred day moving average is $2.44. The firm has a market cap of $20.22 billion, a price-to-earnings ratio of 7.31, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $5.62 billion. On average, research analysts predict that Banco Bradesco will post 0.33 EPS for the current year.

Banco Bradesco Cuts Dividend

The firm also recently announced a — dividend, which will be paid on Monday, August 11th. Stockholders of record on Friday, January 3rd will be issued a $0.0362 dividend. The ex-dividend date is Friday, January 3rd. This represents a dividend yield of 6.2%. Banco Bradesco’s payout ratio is 11.54%.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.